The combination of three years of a global pandemic, geopolitical instability on both sides of the planet, economic instability, workforce scarcity, and the impact of global warming on regions producing crops and primary industry supply and manufacturing, underpinned by the global shift to online buying and a digital consumer and economy, there has been an almost immeasurable increase in the number of cyberattacks targeting supply chains.
There was a time when we could for the most part monitor, measure and respond to or prepare for each of these various individual attack vectors are we refer to them in the security or cybersecurity realm, but with two or more at any one time, they are very difficult to thwart – when we have three or more as is the case today, it can feel like a seemingly impossible task, and for many it actually is.
Importance of cybersecurity in the supply chain
These attacks can have a devastating impact on businesses, causing disruptions to operations and leading to financial losses. To protect their supply chains from these threats, businesses must invest in cybersecurity.
However, many businesses are not aware of the importance of cybersecurity in the supply chain. In this blog post I will share my thoughts around the importance of cybersecurity in the supply chain and offer three ways to bolster supply chain cybersecurity.
Bolstering cybersecurity in your supply chain
With the ever-increasing threat of cyberattacks, bolstering cybersecurity in the supply chain is essential. Here are two tips to help businesses protect their supply chain from potential cyber threats.
- Develop an Incident Response Plan – Having an incident response plan in place is critical to dealing with any potential cyberattacks. This plan should include a detailed process for responding to any cyberthreats, such as measures to be taken to prevent a breach and steps to limit any potential damage.
- Monitor and Analyse Network Traffic – Regularly monitoring and analysing network traffic is another way to bolster supply chain cybersecurity. By keeping an eye on network traffic, businesses can detect any suspicious activity and take steps to prevent cyberattacks.
Businesses should consider working with a cybersecurity firm that specialises in supply chain security. This can provide the peace of mind knowing that the business is protected from any potential cyber threats.
Improving supply chain cybersecurity with technology
Technology plays an important role in improving supply chain cybersecurity. Through the implementation of technologies such as blockchain, AI, and machine learning, businesses can better protect themselves from cyberattacks.
Some of the technologies that businesses could use to improve supply chain cybersecurity are:
- Blockchain – Blockchain can help companies secure data within their supply chain by providing traceability and transparency while also making it harder for hackers to access and tamper with information.
- Artificial Intelligence – AI technology can be used to monitor the supply chain for any potential threats and then take action to prevent those threats. AI can also help with the automation of tasks related to the supply chain, reducing human error.
- Machine Learning – Machine learning algorithms can be used to detect any changes or anomalies within the supply chain. This can allow businesses to be alerted to any potential breaches before they happen, helping to mitigate any potential damage.
By incorporating these technologies into the supply chain, businesses can ensure that their data and processes remain secure.